Finance
Debt Consolidation Comparison Calculator
Compare a blended group of debts with a consolidation loan after accounting for rate, term, origination fee, and current payments. The calculator uses consolidation cost = amortized payments + origination fee − original principal. It returns more than one result so you can check the main answer against a useful secondary measure. A lower payment may come from a longer term rather than a lower total cost. Model each debt separately before signing if rates, promotional periods, or payoff dates differ materially.
Educational scenario only. Confirm rates, fees, taxes, contract terms, and eligibility with the relevant institution or adviser.
Calculate and compare
Use the number box for precision or the slider for fast scenario testing.
Scenario results
New monthly payment
$902.74
Monthly difference: $347.26.
Origination fee
$1,260
Added explicitly to the cost comparison.
New interest and fee cost
$13,424.63
Total modeled payments plus fee minus principal.
How the calculation works
Use consistent units and retain full precision until the final display step.
Worked example
Reproduce the displayed scenario, then change one assumption at a time.
Assumptions behind the result
- • Inputs use the units shown beside each control.
- • The displayed formula is applied without hidden market or demographic data.
- • Rounding occurs only for display; calculations keep full numeric precision.
- • A lower payment may come from a longer term rather than a lower total cost.
- • Model each debt separately before signing if rates, promotional periods, or payoff dates differ materially.
Mistakes that change the answer
- • Mixing percentages with decimals or mixing incompatible units.
- • Relying on a rounded intermediate value instead of the full result.
- • Changing several assumptions at once instead of testing total balances separately.